Organizating Your Business for Start Ups

Starting your own business is a professionally     and personally     fulfilling experience –but it is not easy. The effort of starting  your  new  firm  will  demand  your complete focus and intention.  The first step is  creating  a  detailed  business  plan –to understand what your business will do, and how. But in order to turn your business plan into  a  business,  you  need  to  find  the  right business structure to meet your goals.

There  are  several  factors  to  be  considered while   selecting   an   appropriate   form   of business organization, including: the nature of  your  business,  volume  of  the  business, area  of  operation,  finance,  ownership  and control,  liability,  independence.  The  Indian law   gives   a   plethora   of   options   to   an entrepreneur to choose from:

• Private Company
• Sole Proprietorship
• Non-Profit Organization (NPO)
• Micro,  Small  and  Medium  Enterprise  (MSME)/ Small Scale Industry (SSI)
• Society
• Partnership
• Limited Liability Partnership (LLP)

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source: https://medium.com/@akashkashyapesq/organizating-your-business-for-start-ups-6f7dffea712d